Apartment List Upsizes Series D To $60 Million After Profitable 2020

APARTMENT LIST UPSIZES SERIES D AFTER PROFITABLE 2020, CLOSES ROUND WITH $60 MILLION RAISED

San Francisco Based Technology Company, Apartment List, More Than Doubles its Valuation and Adds Diverse Group of Notable Investors Including Priyanka Chopra Jonas, Lizzo, A-Rod Corp

SAN FRANCISCO, CALIFORNIA (January 27, 2021) - Apartment List, the rental marketplace on a mission to deliver renters a home they love, today announced the close of their upsized Series D round with an additional $10 million dollar investment, which brings the total amount raised to $60 million. The round was led by preeminent institutional investors, alongside notables such as Priyanka Chopra Jonas, Lizzo, A-Rod Corp, Andre Iguodala, Daryl Morey, and Anjula Acharia. This investment caps off a year in which Apartment List achieved profitability and accelerated revenue growth, with the capital raised more than doubling the company’s valuation from its previous funding round.

"We’re thrilled to close our Series D round with the support of such respected, diverse and notable investors,” said John Kobs, Apartment List CEO & Founder. “Continuing our mission to help renters find a home they love and the value they deserve, we are looking forward to expanding our reach and providing renters with a personal concierge in their pocket.”

The funding round closed on the heels of a roller-coaster year in the rental market as the pandemic shifted how renters find their next home and highlighted the importance of technology. Currently, over a third of the U.S. population rents their home with renters being four times more likely to move each year over homeowners, highlighting the rental category’s massive size and growth potential.

Apartment List hosts over 5.5 million units on the platform, reaching millions of renters on their path to find their next home each month. The product categorizes and curates available inventory based on personalized renter preferences, surfacing real-time information on pricing and available rent discounts.

According to Dana Stalder with Matrix Partners, a leading and early investor in Apartment List, "Rentals is the last remaining classified category not yet won by a modern-day startup, and Apartment List is well positioned to lead the charge - a strong and fast growing disruptor, that's only been accelerated in the pandemic."

Apartment List’s compelling growth is powered by proprietary technology; a passionate team; and mission-driven DNA. These elements resonate deeply with artists, investors, and philanthropists alike – including Priyanka Chopra Jonas and Lizzo, luminaries who are excited about both reinventing the rental experience and making a difference through Apartment List’s Home Bridge program, which connects families in need with real estate companies eager to serve their communities.

Adds Denny Fish with Janus Henderson, a lead Series D investor, “Apartment List’s unique value proposition - at the intersection of an industry we find attractive, a supportive macroeconomic backdrop, and a huge market opportunity ahead - makes this a really unique and interesting investment for us.”

The investment enables the company to accelerate growth in its core marketplace, building curated insights for all renter segments and flexible pricing options for properties. Kobs continues, "During a year when home has never been more important, we know it's increasingly critical to provide tools for renters and properties alike. We’ll continue to be there for them with the right technology at the right time to ensure more families find home each year.”

ABOUT APARTMENT LIST: Apartment List is a technology-driven rental marketplace with over 5.5 million units on the platform, reaching millions of renters on their path to find their next home each month. Apartment List was founded with the mission to deliver every renter a home they love and the value they deserve. Apartment List offers a unique success-based business model with aligned incentives - connecting renters who want a curated concierge experience with properties that want flexible marketing solutions.